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13th July – Current Affairs


13th July – Current Affairs

Second India-Russia Strategic Economic Dialogue (IRSED) :
Ø   The Second India-Russia Strategic Economic Dialogue (IRSED) was recently held in New Delhi.
Ø   The Second India-Russia Strategic Economic Dialogue (IRSED) was held today in New Delhi, under the chairmanship of Dr. Rajiv Kumar, Vice-Chairman, NITI Aayog and Mr. TimurMaksimov, Deputy Minister of the Economic Development of the Russia.
Ø   The meeting focussed on 6 core areas covering Transport, Agriculture, Small and Medium Business, Digital Technologies, Finance, Tourism & Connectivity.
Ø   Background:
o   The IRSED was established following a bilateral MoU signed between NITI Aayog and the Ministry of Economic Development of the Russia during the 19th edition of the Annual India-Russia Bilateral Summit held in 2018 in New Delhi.
o   The First India-Russia Strategic Economic Dialogue was held in St. Petersburg in November 2018.


U.R Rao Satellite Centre (URSC) :
Ø U.R. Rao Satellite Centre (URSC) has created a simulated surface by fetching soil from Tamil Nadu for testing 'Chandrayaan-2’s lander and rover on earth.
Ø What is it? It is an Indian Space Research Organisation (ISRO) lead centre for building satellites and developing associated satellite technologies. 
Ø Location: Bengaluru. 
Ø Name: 
o   It was Formerly known as ISRO Satellite Centre (ISAC). 
o   It was renamed in 2018 after the former ISRO Chairman and ISAC founding Director Dr. Udupi Ramachandra Rao. 
Ø Established in: 1972.  
Ø Organisations under the umbrella of URSC include: 
o   Laboratory for Electro-Optics Systems (LEOS) and 
o   ISRO Satellite Integration and Testing Establishment (ISITE). 










301 PROBE (UNITED STATES) :
Ø Deputy U.S. Trade Representative (USTR) said that the U.S. will consider a “301 investigation” against India if the trade issues between the two countries are not resolved quickly.

Ø “301 investigation” is a probe employed as a precursor to tariffs and other trade measures against a country. A Special 301 Report is prepared annually by the USTR and is different from a 301 investigation. 
Ø Section 301 of the U.S. Trade Act (1974) was also used to authorise a 2017 probe that resulted in tariffs on Chinese exports to the U.S. from July 2018. Earlier this week, the USTR announced a 301 probe against France on a digital services tax.
Section 301 of the U.S. Trade Act of 1974?
Ø Section 301 of the U.S. Trade Act of 1974 authorizes the President to take all appropriate action to obtain the removal of any act or practice of a foreign government that burdens or restricts U.S. commerce.
Ø Section 301 cases can be self-initiated by the United States Trade Representative (USTR) or as the result of a petition filed by a firm or industry group. 



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